> For the complete documentation index, see [llms.txt](https://documentation.soulver.app/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://documentation.soulver.app/syntax-reference/money-and-finance/mortgages.md).

# Mortgage/Loan Repayments

### Principal + Interest

```
daily repayment on $10,000 over 6 years at 6%   | $5.45
monthly repayment on $10,000 over 6 years at 6% | $165.73
annual repayment on $10,000 over 6 years at 6%  | $1,988.75
total repayment on $10,000 over 6 years at 6%   | $11,932.48
```

### Interest Only

<pre><code>daily interest on $10,000 over 6 years at 6%          | $0.88
<strong>monthly interest on $10,000 over 6 years at 6% | $26.84
</strong>annual interest on $10,000 over 6 years at 6% | $322.08
total interest on $10,000 over 6 years at 6%           | $1,932.48
</code></pre>

{% hint style="info" %}

* For an [amortizing loan](https://www.thebalance.com/how-amortization-works-315522), the monthly interest decreases over time as you pay off the loan's principal.
* Typically an [amortization table](https://www.investopedia.com/terms/a/amortization_schedule.asp) is used for details about what you'll pay in a given month.
* The monthly interest function in Soulver indicates the average monthly interest paid over the lifetime of the loan.
  {% endhint %}